Goldshore Resources drills 1.33 g/t gold over 54.45 metres at Moss Lake, Ontario
Goldshore Resources Inc. [GSHR-TSXV; GSHRF-OTCQB; 8X00-FSE] released assay results from its continuing 100,000-metre drill program at its Moss Lake project in Northwest Ontario, Canada.
Highlights: Results from seven holes infilling the QES zone have confirmed wide zones of gold mineralization containing multiple, closely spaced, high-grade shears in previously poorly drilled volumes, with best intercepts of 0.86 g/t gold over 120.65 metres from 593 metres depth in MQD-22-104, including 1.33 g/t gold over 54.45 metres from 657 metres.
MQD-22-099 returned 1.06 g/t gold over 44.3 metres from 591.15 metres depth, including 1.55 g/t gold over 27.1 metres from 594 metres. MQD-22-0100 returned 0.48 g/t gold over 185.55 metres from 208.4 metres depth, including 1.67 g/t gold over 12.75 metres from 346.25 metres.
MQD-22-101 returned 0.81 g/t gold over 61.35 metres from 614.65 metres depth, including 1.18 g/t gold over 14.65 metres from 623.35 metres. MQD-22-102 returned 0.74 g/t gold over 80.95 metres from 193.05 metres depth, including 1.43 g/t gold over 20 metres from 246.1 metres.
MQD-22-103 returned 0.71 g/t gold over 77 metres from 190 metres depth, including 1.43 g/t gold over 16 metres from 203 metres.
Additionally, these holes intersected parallel mineralized shears at shallow depths south of the main QES zone, which are open along strike and expand the cumulative width of the QES zone by over 100 metres to 620 metres. Best intercepts include 2.23 g/t gold over 11.2 metres from 119.05 metres depth in MQD-22-100.
MQD-22-101 returned 5.9 g/t gold over 2.6 metres from 91 metres depth. MQD-22-104 returned 2.41 g/t gold over 8.5 metres from 112.7 metres.
President and CEO Brett Richards stated: “As previously illustrated throughout the last 12 months of publishing drill results, these results continue to support our thesis that the size and scale of the Moss gold project will be large enough to support a material and meaningful update to the mineral resource estimate, which is expected in April, 2023, followed by a preliminary economic assessment on the updated resource. We continue to find additions to the resource on stepout holes laterally and along strike from the historic resource profile, and QES continues to widen with continued mineralization to be tested to make it even wider. We look forward to seeing the impact of these additions to the resource model.”
These most recent results continue to build on the successful winter infill and expansion program at the QES zone. The robust widths and consistent gold grades in all seven holes provide strong confirmation of the geological interpretation, and significantly increase the resolution of data in hitherto poorly defined volumes.
Holes MQD-22-098, MQD-22-100, MQD-22-102 and MQD-22-103 were focused on closing gaps in the existing drill pattern at shallower elevations. All four holes intercepted a tightly spaced set of narrow, high-grade shear zones within a broad envelope of strongly altered granodiorite.
Holes MQD-22-099, MQD-22-101 and MQD-22-104 were stepped back to the southeast to test the deeper portion of the eastern end of the QES zone. These holes have defined the true width of the high- and low-grade mineralized domains in an area of widely spaced and partially sampled historical drilling. In addition to these deeper intercepts on the main QES shear zone, all three holes generated significant high-grade intercepts at shallow depths, which define a series of parallel mineralized shears in sericite-hematite-altered volcanics and narrow diorite intrusive bodies 200 m to the south of the main QES zone.
Pete Flindell, vice-president of exploration, said: “These results confirm our belief that the Moss gold deposit is wider and deeper than previously thought – now filling a 600-to-700-metre-wide corridor – and that there are many more shears hosting high-grade gold mineralization. This will assist our goal of expanding the mineral resource and improving its quality in April, 2023.”
Goldshore is an emerging junior gold development company and owns the Moss Lake gold project, located in Ontario. Wesdome Gold Mines Ltd. [WDO-TSX] is currently a large shareholder of Goldshore, with an approximate 22% equity position in the company.